Chinese Bank Trials Digital Yuan Services at ATMs: Report

The Agricultural Bank of China previously debuted digital yuan ATMs this January. China continues apace with the adoption of its central bank digital currency (CBDC) as major banks launch a significant batch of digital yuan-powered ATMs.The digital yuan — a CBDC controlled by The People’s Bank of China — is now available for deposit and withdrawals at over 3,000 ATMs across Beijing, state-run Xinhua news agency reported Friday.According to the report, the Beijing branch of the Industrial and Commercial Bank of China has become the first bank to fully enable the digital yuan exchange in the....

The new digital yuan, currently undergoing trials, can help to increase the international usage of China’s national fiat, experts have stated. As the renminbi (RMB, CNY) is becoming one of the world’s most important currencies, the People’s Bank of China is planning to conduct cross-border tests with the yuan’s digitized version, the e-CNY. Digital Yuan to Facilitate ‘Renminbi Internationalization’ The digital yuan will further promote the process of “internationalization” of the renminbi, Chinese experts believe. This can happen when the....

Leading Chinese banks have introduced digital yuan withdrawals at more than 3,000 ATM locations in Beijing. Residents of the capital city will now be able to exchange their e-CNY funds for cash and vice versa. Some of the teller machines are located in a popular shopping area. Banks Launch Support for Digital Yuan at ATMs Across Beijing The Beijing branches of two major banks in the People’s Republic, Industrial and Commercial Bank of China and the Agricultural Bank of China, have taken the lead in offering two-way exchange between the digital and traditional version of the national....

Chinese e-commerce company JD.com has upped its support for the country’s central bank digital currency. JD.com has been using China’s Digital Currency Electronic Payment, or DCEP, system to pay the salaries of some employees since January.The e-commerce firm revealed the news on Sunday while announcing its participation in the one-year DCEP trial show at the fourth Digital China Summit in Fuzhou slated for April 25 and 26.Commenting on its digital yuan adoption journey, the company stated that apart from paying staff salaries, JD has also utilized the DCEP in business-to-business payments....

The Agricultural Bank of China (ABC), one of China’s “big four” banks, is embarking on a pilot program to enable the first digital yuan ATMs. The banking institution deployed the first machines in selected branches in Shenzhen. ATMs Will Work With a Smartphone App According to SZ News, the program is part of the ongoing second digital yuan trial, consisting of a giveaway of 200 yuan ($31) to 100,000 residents. The ATMs enable the possibility to deposit and withdrawal the digital yuan via a smartphone app. The pilot program’s mobile app allows customers to convert....